Strategy (formerly MicroStrategy) CEO Phong Le confirmed the company’s Bitcoin liquidation price is zero, as its cash reserves of approximately $6.69 billion nearly match its $6.75 billion convertible debt, eliminating any risk of forced selling. Strategy holds approximately 840,000 BTC, making it the largest corporate holder of the cryptocurrency, with recent equity capital raises of around $2 billion further strengthening its financial position. The company carries approximately $1.7 billion in annual preferred dividend obligations, but its near-zero net leverage means debt-related liquidation concerns would only become relevant if Bitcoin’s price dropped to the $8,000-$10,000 range. This zero liquidation price effectively removes a significant source of downward pressure on the broader crypto market during stress events, as the largest corporate Bitcoin holder cannot be forced to sell its holdings.
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